Appraisals

[Henry Drury]

To whom it may concern,

I am inquiring about appraisals for HUD code and Modular homes sold in the state of South Carolina. There is difficulty in understanding the guidelines and I am trying to get clarity to battle this issue. There are fewer and fewer appraisers wanting to appraise manufactured homes due to South Carolina law for HUD code homes. There is also a variety of interpretations of how Modular homes are to be appraised as well. I believe the Appraisal issues are handicapping sells in HUD code and Modular housing. There is a need of rules and regulations to prevent abuse from some in our industry, however guidelines are not clear and we in the industry must have some reform in order to have effeciency and profitability.
Thanks
Henry Drury
General Manager
Oakwood Homes
Greenville SC
864-286-6888

[rmurray]

We do much business into SC and have no problem finding appraisors and getting reasonable values...

Unfortunatly some counties in SC have very low real estate values and high end homes are hard to place in some areas..

Your appraisal board is the place to get the rules...basically manufactured homes must have 2 manufactured home comps in the area and then can use 1 stick comp if others are not available...but nearly always there are others available..not always at figures you will be happy with...

There seems to be a problem with the whole appraisal business...They appraise all homes no matter the original quality by the square foot.......This hurts the higher end homes because comps might not be as high a quality...